South Korea Third Generation Advanced High-Strength Steel Market to 2032
Overview
The South Korea Third Generation Advanced High-Strength Steel Market is expected to reach a 2,169.25 USD Million by 2032 and is projected to grow at a CAGR of 52.28% from 2025 to 2032.
Revenue, 2024 (USD Million)
347.93
Forecast, 2032 (USD Million)
2,169.25
CAGR, 2024 - 2032
52.28%
Report Coverage
South Korea
South Korea Third Generation Advanced High-Strength Steel Market 2018-2032 USD Million
South Korea Third Generation Advanced High-Strength Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 347.93 USD Million
- Projected Market Size (2032): 2,169.25 USD Million
- CAGR (2025-2032): 52.28%
Key Findings of South Korea Third Generation Advanced High-Strength Steel Market
- The South Korea Third Generation Advanced High-Strength Steel Market was valued at 347.93 USD Million in 2024.
- The South Korea Third Generation Advanced High-Strength Steel Market is likely to grow at a CAGR of 52.28% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Strip in Hot Rolled Product Type Segment accounted for the largest share of the market with a revenue of 230.26 USD Million
- The fastest growing segment Enhanced Dual-Phase (DP) in Process Segment grew Fastest with a CAGR of 63.21% during the forecast period from 2024 to 2032.
South Korea Third Generation Advanced High-Strength Steel Market Scope
South Korea Third Generation Advanced High-Strength Steel Market Segmentation & Scope
Process
- Higher MN Trip/TWIP
- Lower MN Trip/TWIP
- Ultrafine Bainite
- Modified Trip
- Enhanced Dual-Phase (DP)
- Quenching and Partitioning (Q &P)
Hot Rolled Product Type
- Quarto Plate
- Strip
Tensile Strength
- Above 1600 MPA (CLASS 3)
- 700 MPA – 900 MPA (CLASS 1)
- 1200 MPA – 1600 MPA (CLASS 3)
- 900 MPA – 1200 MPA (CLASS 2)
Technology
- Surface Technology
- Thin Monolithic Technology
- Thick Monolithic Technology
Application
- Others
- Automotive Body Side (All Other Panels)
- Automotive Body Side Outer Panels
South Korea Third Generation Advanced High-Strength Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2018 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 347.93 USD Million |
| Market Value in 2032 | 2,169.25 USD Million |
| CAGR (2025-2032) | 52.28% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Process,Hot Rolled Product Type,Tensile Strength,Technology,Application |
Regional Insights:
-
Leading Market (2024-2032): South Korea, leading in terms of revenue 347.93 USD Million in 2024
- Key Country: South Korea, leading in terms of revenue with value of 347.93 USD Million in 2024.
Segments and Scope
-
South Korea Third Generation Advanced High-Strength Steel Market to 2032, By Process
- Enhanced Dual-Phase (DP) is the largest segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a revenue of 132.99 USD Million in the year 2024.
- Enhanced Dual-Phase (DP) is the Fastest growing segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a Growth rate of 63.21 % in forecast period 2025-2032.
-
South Korea Third Generation Advanced High-Strength Steel Market to 2032, By Hot Rolled Product Type
- Strip is the largest segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a revenue of 230.26 USD Million in the year 2024.
- Strip is the Fastest growing segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a Growth rate of 54.25 % in forecast period 2025-2032.
-
South Korea Third Generation Advanced High-Strength Steel Market to 2032, By Tensile Strength
- 900 MPA – 1200 MPA (CLASS 2) is the largest segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a revenue of 159.18 USD Million in the year 2024.
- 900 MPA – 1200 MPA (CLASS 2) is the Fastest growing segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a Growth rate of 57.13 % in forecast period 2025-2032.
-
South Korea Third Generation Advanced High-Strength Steel Market to 2032, By Technology
- Thick Monolithic Technology is the largest segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a revenue of 184.93 USD Million in the year 2024.
- Thick Monolithic Technology is the Fastest growing segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a Growth rate of 56.01 % in forecast period 2025-2032.
-
South Korea Third Generation Advanced High-Strength Steel Market to 2032, By Application
- Automotive Body Side Outer Panels is the largest segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a revenue of 152.08 USD Million in the year 2024.
- Automotive Body Side Outer Panels is the Fastest growing segment in South Korea Third Generation Advanced High-Strength Steel Market to 2032 with a Growth rate of 54.26 % in forecast period 2025-2032.
South Korea Third Generation Advanced High-Strength Steel Market Company Share Analysis
South Korea Third Generation Advanced High-Strength Steel Market Geographical Sales Distribution, 2018-2032 USD Million
South Korea Third Generation Advanced High-Strength Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The South Korea Third Generation Advanced High-Strength Steel Market is segmented based on Segmentation Process,Hot Rolled Product Type,Tensile Strength,Technology,Application.
South Korea Third Generation Advanced High-Strength Steel Market was valued at USD 347.93(Revenue in USD Million) in 2018.
South Korea Third Generation Advanced High-Strength Steel Market is projected to grow at a CAGR of 52.28% during the forecast period of 2024 to 2032.
The Strip segment is expected to dominate the South Korea Third Generation Advanced High-Strength Steel Market, holding a largest market share of 230.26 USD Million in 2024
South Korea Third Generation Advanced High-Strength Steel Market Scope
South Korea Third Generation Advanced High-Strength Steel Market Segmentation & Scope
Process
- Higher MN Trip/TWIP
- Lower MN Trip/TWIP
- Ultrafine Bainite
- Modified Trip
- Enhanced Dual-Phase (DP)
- Quenching and Partitioning (Q &P)
Hot Rolled Product Type
- Quarto Plate
- Strip
Tensile Strength
- Above 1600 MPA (CLASS 3)
- 700 MPA – 900 MPA (CLASS 1)
- 1200 MPA – 1600 MPA (CLASS 3)
- 900 MPA – 1200 MPA (CLASS 2)
Technology
- Surface Technology
- Thin Monolithic Technology
- Thick Monolithic Technology
Application
- Others
- Automotive Body Side (All Other Panels)
- Automotive Body Side Outer Panels
Frequently Asked Questions
The South Korea Third Generation Advanced High-Strength Steel Market is segmented based on Segmentation Process,Hot Rolled Product Type,Tensile Strength,Technology,Application.
South Korea Third Generation Advanced High-Strength Steel Market was valued at USD 347.93(Revenue in USD Million) in 2018.
South Korea Third Generation Advanced High-Strength Steel Market is projected to grow at a CAGR of 52.28% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Third Generation Advanced High-Strength Steel Market for final year is USD 2,169.25 (USD Million).
South Korea Third Generation Advanced High-Strength Steel Market Company Profiling
Frequently Asked Questions
The South Korea Third Generation Advanced High-Strength Steel Market is segmented based on Segmentation Process,Hot Rolled Product Type,Tensile Strength,Technology,Application.
South Korea Third Generation Advanced High-Strength Steel Market was valued at USD 347.93(Revenue in USD Million) in 2018.
South Korea Third Generation Advanced High-Strength Steel Market is projected to grow at a CAGR of 52.28% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Third Generation Advanced High-Strength Steel Market for final year is USD 2,169.25 (USD Million).
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